MGX Minerals Strengthens Property Portfolio through Acquisition of New Magnesite Prospects in British Columbia

Details

November 06, 2014

VANCOUVER, BRITISH COLUMBIA – November 6, 2014 - MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG) is pleased to report the Company has acquired mineral claims covering seven known magnesite occurrences (the “Prospects”) throughout British Columbia.

Stated MGX President and CEO Jared Lazerson: “We are now implementing our broader strategy of acquiring strategic land positions over known industrial mineral occurrences. We are particularly excited about the Red Mountain and Topaz Lake Prospects as they are located in close proximity to our flagship Driftwood Creek magnesite property and preliminary field results show similar magnesite grades.”

Field reconnaissance on each Prospect was conducted by the Company’s N.I. 43-101 Qualified Person Andris Kikauka. Rock chip samples were collected and submitted to ALS Minerals in North Vancouver, British Columbia for chemical analysis using XRF whole rock analysis for oxides. Geochemical analysis results were as follows:

Sample

Prospect

Al2O3 (%)

CaO (%)

Fe2O3 (%)

MgO (%)

SiO2 (%)

14RED-1

Red Mountain

0.29

1.06

1.43

40.0

10.4

14RED-2

Red Mountain

0.16

1.35

1.57

39.2

12.0

14RED-3

Red Mountain

0.63

0.6

0.84

40.5

10.7

14RED-4

Red Mountain

0.19

0.49

1.01

38.0

17.4

14RED-5

Red Mountain

0.78

0.77

1.12

41.0

8.89

14TOP-1

Topaz Lake

0.74

2.86

1.27

42.2

2.26

14TOP-2

Topaz Lake

0.73

1.98

1.73

40.1

7.44

14TOP-3

Topaz Lake

1.30

0.92

1.39

44.0

2.78

14TOP-4

Topaz Lake

0.81

0.51

1.13

42.8

10.35

14TOP-5

Topaz Lake

0.14

3.9

1.58

40.9

3.12

14TOP-6

Topaz Lake

0.30

0.54

1.46

42.5

5.63

14CLE-1

Cleland Lake

0.09

29.5

1.59

19.65

2.78

14CLE-2

Cleland Lake

0.11

29.5

1.88

19.6

2.63

14CLE-3

Cleland Lake

0.05

28.0

1.91

18.7

7.52

14CLE-4

Cleland Lake

0.38

23.8

1.43

15.8

21.3

14CLE-5

Cleland Lake

<0.01

29.2

0.85

20.1

4.26

14EON-1

Mt. Eon

0.02

29.5

0.32

22.5

0.05

14EON-2

Mt. Eon

0.03

19.45

0.43

30.8

0.05

14EON-3

Mt. Eon

0.05

9.04

0.53

39.2

0.05

14EON-4

Mt. Eon

0.03

30.5

0.32

21.7

0.08

14ASS-1

Mt. Assiniboine

<0.01

30.5

0.25

21.5

0.04

14ASS-2

Mt. Assiniboine

0.03

28.3

0.45

23.3

0.08

14ASS-3

Mt. Assiniboine

0.01

24.2

0.5

26.3

0.04

14ASS-4

Mt. Assiniboine

0.02

28.6

0.21

23.4

0.03

14ASS-5

Mt. Assiniboine

0.02

29.6

0.26

22.9

0.04

14ASS-6

Mt. Assiniboine

<0.01

28.9

0.22

23.6

0.02

14DUN-1

Dunbar Creek

0.65

29.0

2.31

19.1

3.26

14DUN-2

Dunbar Creek

0.12

28.8

2.02

19.2

4.46

14DUN-3

Dunbar Creek

0.03

4.44

2.03

39.7

4.16

14DUN-4

Dunbar Creek

0.58

1.0

1.56

43.4

2.27

14DUN-5

Dunbar Creek

0.21

10.8

2.49

34.9

2.56

Qualified Person Andris Kikauka, Vice President of Exploration for MGX Minerals and a non-independent Qualified Person as defined by N.I. 43-101, has reviewed the information contained in this news release and has verified the data.

Quality Assurance/Quality Control Analytical work for soil geochemical and rock chip samples were carried out at the ALS Minerals laboratory in North Vancouver, British Columbia using XRF whole rock analysis for oxides. The sampling program was carried out by the Company's Vice President of Exploration and Qualified Person Andris Kikauka (P.Geo).

About MGX MineralsMGX Minerals is a diversified Canadian resource and technology company with interests in global advanced material, energy and water assets.

Forward-Looking StatementsThis press release contains forward-looking information or forward-looking statements (collectively "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: "believe", "expect", "anticipate", "intend", "estimate", "potentially" and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking information as a result of various factors. The reader is referred to the Company's public filings for a more complete discussion of such risk factors and their potential effects which may be accessed through the Company's profile on SEDAR at www.sedar.com.